Shareholders of Nigerian Exchange (NGX) Group Plc will share N4.4 billion as dividend for the 2024 financial year, the company said in its results.
The organisation is distributing the cash reward after delivering a record-breaking profit before tax (PBT) of N13.6 billion, marking an impressive 157.3 per cent year-on-year growth.
This strong performance was driven by robust revenue expansion, strategic cost optimization, and increased market participation, reflecting the Group’s resilience and financial strength.
The final dividend is the highest payout by the firm and it amounts N2.00 per share, reaffirming its commitment to delivering value to investors while maintaining a strong capital position.
The company’s outstanding financial performance in 2024 reflects the success of its strategic expansion and innovation agenda, including the launch of NGX Invest, which has facilitated N1.845 trillion in capital raises for the banking sector, enhancing liquidity and investor participation.
In addition, the firm expanded into new markets, marked by a strategic investment in the Ethiopian Securities Exchange (ESX), reinforcing its regional footprint. It also optimised its workforce and a few operational efficiency initiatives, leading to improved cost management and productivity.
Last year, NGX Group grew its gross earnings by 103.2 per cent to N24.0 billion from N11.8 billion in the previous year, propelled by significant growth across key revenue streams, with transaction fees rising by 64.0 per cent due to heightened market activity.
Further, the organisation witnessed a 397.1 per cent surge in listing fees, reflecting stronger capital market participation, with technology-related income soaring by 105 per cent as a result of its digital transformation efforts.
“These results mark a pivotal moment in NGX Group’s post-demutualisation growth journey, reinforcing investor confidence in our long-term vision.
“The approval of a record N4.4 billion dividend demonstrates our unwavering commitment to rewarding shareholders while positioning NGX Group as a key driver of capital market development.
“As we continue to invest in market infrastructure and innovation, we remain focused on creating sustainable value for all stakeholders,” the chairman of the firm, Mr Umaru Kwairanga, stated.
The chief executive, Mr Temi Popoola, on his part, said the performance, “Reflects our strategic focus on execution, operational excellence, and innovation.
“Looking ahead, we remain committed to deepening market participation, broadening investment opportunities, and driving efficiency across the capital market ecosystem.
“We will continue investing in innovation, enhancing market infrastructure, and developing new platforms that improve accessibility and attract a wider range of investors.
“Through these efforts, we are shaping NGX Group into a leading force in Africa’s financial landscape, delivering sustainable value for all stakeholders.”